Culture is Shared
I was talking to some potential partners the other day and they remarked that Permanent Equity’s culture “looks strong” from the outside. We all have bad days, but I took it as a compliment on what we’re trying to build. Asked why, after thinking about it, I attributed it to three things:
(1) Shared experiences.
Every Thursday, we eat lunch together – catered by Ryan’s wife, Chef Alane. It’s healthy and delicious, and she shares the recipe (this was a particularly good one) so we can all make whatever we just devoured at home. Sometimes spending that time together leads to a business breakthrough; other times it’s just fun. Either way, we find that proximity compounds – which is also why we were back in the office so soon amid the pandemic. We just didn’t have such a clever term for it then.
(2) Shared language.
Shared shorthand is a superpower. It enables you to cover complex topics and gain mutual understanding with a single phrase. Beer Money. The barbell. Even, “bussin’.” When you speak the same language, better decisions get made faster. Plus, inside jokes are fun when everyone is on them.
(3) Shared standards.
Everyone needs to know where they stand, what success looks like, and how to move the needle. Candidly, I think we’re solid at experiences and language, but could do better with standards. We started focusing more on this recently with Brent’s directive to be kind, not nice. It’s also why we implemented our Blueprint process and boards of directors. There is always an interesting debate to be had around failures of management vis a vis failures of performance. But it all starts with clear expectations and objectives that beget measurable actions. If you have that, you have shared standards and accountability.
Occasionally, a company’s culture gets confused with the breadth of perks and benefits it offers, and Permanent Equity tries to offer some cool ones of those, too. Ultimately, however, culture is not what you get, but what you share. And if you share experiences, language, and standards, you’ll get the culture you deserve.
– Tim
Sign up below to get Unqualified Opinions in your inbox.
The information, opinions, and views presented in this publication are provided solely for general informational and educational purposes. They are of a general nature, have not been tailored to the specific circumstances of any individual or entity, and do not constitute a comprehensive statement of the matters discussed. This material should not be interpreted or relied upon as investment, legal, tax, accounting, regulatory, or other professional advice, and nothing in this publication is intended to be or should be construed as such. You should obtain advice from your own professional advisors regarding the applicability of the information to your particular circumstances.
The views and analyses expressed are those of the author and do not necessarily represent or reflect the views, opinions, policies, or positions of Permanent Equity Management, LLC, its officers, directors, employees, affiliates, or portfolio companies, or of any person or entity with whom the author may be affiliated. Permanent Equity Management, LLC makes no representation or warranty, express or implied, as to the accuracy, completeness, timeliness, or suitability of the information contained herein and expressly disclaims any liability for errors or omissions.
This publication is not, and should not be construed as, an offer to sell, a solicitation of an offer to buy, or a recommendation of any security, financial instrument, or other product. It does not form the basis of any contract and does not create a fiduciary, advisory, or client relationship with Permanent Equity Management, LLC. Any examples or references to third-party content are for illustrative purposes only and do not constitute an endorsement. Permanent Equity Management, LLC is not responsible for the availability, accuracy, or content of third-party materials. Past performance is not indicative of future results. Any forward-looking statements are inherently uncertain and subject to change.
